Nash's Trading Post, LLC is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Nash's Trading Post, LLC’s local banker has indicated that the company cannot increase its borrowing for the foreseeable future. Nash's Trading Post, LLC’s suppliers are demanding payment for goods acquired within 30 days of the invoice date, but Nash's Trading Post, LLC’s customers are slow in paying for their purchases (60–90 days). As a result, Nash's Trading Post, LLC has a cash flow problem.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.